Industrial Robotics Market Size, Share, Growth Analysis, By Type(Traditional Robots (Articulated Robots, Cartesian Robots, SCARA Robots, Parallel Robots), By Payload(Up to 16.00 kg, 16.01–60.00 kg, 60.01–225.00 kg, and More than 225.00 kg), By Component(Robot Arm, Robot Accessories, Additional Robotic Hardware, System Engineering), By Application(Handlings, Assembling & Disassembling, Welding & Soldering, Clean Room), By End Use(Automotive, Electrical & Electronics, Metals & Machinery, Plastics), By Region - Industry Forecast 2024-2031

Industrial Robotics Market size was valued at USD 14.7 Billion in 2022 and is poised to grow from USD 16.6 Billion in 2023 to USD 44.87 Billion by 2031, at a CAGR of 13.2% during the forecast period (2024-2031). 

The competitive landscape of the global industrial robotics market is characterized by intense rivalry and a diverse array of key players vying for market share in this rapidly evolving industry. These players compete based on factors such as product portfolio, technological advancements, pricing strategies, and market reach. They use their huge experience and smart technology to give a wide range of robotics solutions. These big players in the industry always put their money into research and development. They do this so they can create new sensor technologies, keeping them ahead of what's popular in the market. Market players focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and gain a competitive edge. 'ABB Ltd (Switzerland) ', 'Fanuc Corporation (Japan) ', 'Yaskawa Electric Corporation (Japan) ', 'Kuka AG (Germany) ', 'Kawasaki Heavy Industries Ltd (Japan) ', 'Mitsubishi Electric Corporation (Japan) ', 'Denso Corporation (Japan) ', 'Epson Robots (Japan) ', 'Staubli International AG (Switzerland) ', 'Nachi-Fujikoshi Corporation (Japan) ', 'Universal Robots A/S (Denmark) ', 'Comau S.p.A. (Italy) ', 'Omron Adept Technologies Inc. (U.S.) ', 'Yamaha Robotics (Japan) ', 'FANUC India Private Limited (India) ', 'Rethink Robotics Inc. (U.S.) ', 'Adept Technology Inc. (U.S.) ', 'NACHI ROBOTICS SYSTEMS INC. (Japan) ', 'Toshiba Machine Co. Ltd. (Japan) ', 'Precise Automation Inc. (U.S.) ', 'Kawasaki Robotics (USA) Inc. (U.S.) ', 'KUKA Robotics Corporation (U.S.)'

The demand for industrial robotics is increasing in emerging economies such as China, India, and Brazil, due to the growth of the manufacturing sector in these countries. This is expected to provide significant growth opportunities for the industrial robotics market in the coming years. Governments across the world are promoting the use of industrial robotics to increase productivity and competitiveness in the manufacturing sector. For instance, in the US, the government has launched the National Robotics Initiative to support research and development in robotics and automation. 

Industry 4.0 named cyber-physical systems, IoT, and big data analysis is also affecting the industrial robotics market. This trend is based on the automation of manufacturing processes by using intelligent technologies, and all manufacturing systems are closely connected and can work simultaneously. With the help of such technologies developed and the further continuation of Industry 4. It has created a possibility to establish smart factories with improved performance and productivity as well as flexibility. Robotics is at the center of this change with robotic systems including sensors and connectivity features that make data collection for performance enhancement and to augment volatile production demands easy to achieve. 

In 2023, the Asia Pacific region dominated the industrial robotics market, accounting for a share of over 65%. Throughout the forecast period as well, the region is anticipated to dominate the industrial robotics market. In Asia Pacific region, key players are increasingly adopting robotics technologies to automate the production process. Economies such as China, India, South Korea and Japan have experiencing rapid growth within the Industrial robotics market. Overall, the regional market has a significant opportunity and has growth due to the rising trend towards automation, artificial intelligence, and other cutting-edge technologies.